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Posted by Neha De
August 17, 2020 | 3-minute read (603 words)
A breach in security can cost your business more than just money. It can lead to lost consumer trust, stolen data, company downtime, low ratings or even compliance fines. And even though companies work to strengthen their cybersecurity, breaches still occur in some cases, and those are often due to extremely common errors.
Check out ten of the most common mistakes businesses make when it comes to defending their assets from cybercriminals.
Complacency is the number one enemy of cybersecurity. It’s a bad idea to assume that a small enterprise isn’t susceptible to data breaches and other cyberattacks. Cybercriminals routinely target small- and medium-sized businesses with stronger, more evolved threats.
By not understanding the architecture of their devices, systems and networks, and not keeping their software updated, businesses essentially open the door for hackers to breach their systems with minimum resistance.
In today’s advanced threat landscape, antivirus and malware technologies are not adequate to prevent persistent and advanced attacks. This is because cybercriminals are always evolving their processes faster than security companies can update their tools.
According to Accenture’s 2017 Cost of Cyber Crime Study, organizations may be spending too much on the wrong technologies. Five of the nine security technologies had a negative value gap where the percentage spending level was higher than the relative value to the business.
Passwords are there for a reason and should never be taken lightly. Unsafe password practices have been a point of concern for organizations since the internet first launched. But most businesses still don’t take this seriously, making it easier for cybercriminals to make their way easily into company files.
While the majority of attacks come from outside, internal employees can also put businesses at an increased risk by using the same and/or unsecured passwords for multiple logins, improperly sharing and storing data, falling for phishing scams via email and engaging in shadow IT.
Making one person responsible for maintaining security might not be a great idea, especially if the person is new to the company. Instead, make security a multi-step process that involves multiple people so you ensure that you have checks and balances in place.
Backing up data, networks and systems can be extremely useful in case of a breach, but many businesses ignore this step. If the files are backed up, businesses can promptly clean up their systems, install new software and other programs, and restore files from the backed-up ones.
According to Bitglass' 2018 BYOD Security Report, 85 percent of organizations are embracing bring your own device (BYOD) policies by allowing their employees to use personal devices for work. Yet 43 percent of companies are not aware of whether the devices accessing corporate data have downloaded malware.
Small- and medium-sized businesses tend to trust the technology they’ve installed for security and most often don’t invest in round-the-clock monitoring systems.
One way to ensure that your systems are secure is to work with an outsourcing partner who can handle your TechOps from top to bottom. This can help prevent cyberattacks and give you the peace of mind that experts are handling that side of your security program.
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